Stop being a Wimp!... DMP Journey

Ellieseleven

I tried having different pots but found I was forever shuffling things around. It is usually my car that uses the money so you're right, a separate pot for car repairs could be the way forward.

I don't mind if my EF grows more slowly as long as I can keep it intact.

Thanks for the advice EE:T

Ellie xx

Eager_Elephant

Wasn't sure if I was being too harsh but I find it a struggle when people mention an emergency fund for car insurance etc.


In my eyes an emergency is when the roof gets damaged in a storm or relatives abroad get ill but maybe I just see things differently to others.


I have pots for everything and I pay money in on the 1st of each month - there used to be a lot of temptation to take money out if I had nothing left to spend but then I try to envisage how I will manage if the car needs fixing or I need new glasses and I don't want to scrabble around to find the money.


The only pot which is a problem was my savings/debt payoff pot as they had no real reason and so I thought I could dip into them. Now I will have savings accounts named as emergency fund and debt payoff and that should help.

Ellieseleven

Not harsh at all EE:)

I do have various savings accounts that I can use, I'll split any spare cash across them. Like you say the EF will rise more slowly but there's a good chance it will remain in tact;)

Ellie xx

Ellieseleven

First month of a new year and our debt is now under 9k and we've paid 81% back. I don't think I can remember the last time I owed so little:o I had 6 credit cards of my own for around 25 years and although originally I had high credit limits, I did try to keep each one at around the 2k mark:eek:

This was manageable until OH's income reduced and then I found myself using the cards more and more. I knew deep down what was happening but I just couldn't get out of the spiral and suddenly where once there was a 2k debt it became 6k:eek:

I fought so hard to avoid a DMP but in the end had no choice (racking up further debt in the process):eek: Now, I look on my DMP as my saviour, my credit rating is shot to pieces but who cares? I've managed for 5 1/2 years without credit and long may it continue;)

I've learnt to budget for the things I need and several times things have been put into perspective where money is concerned. A dear friend of ours has just lost their daughter at 35 and no amount of money can bring her back. For me this makes me thankful for my health and that of my family:o

I have a bright future to look forward to where once I dreaded what would happen to me in retirement.

I still have a year to go (or thereabouts) but that time will pass quickly and each month now brings me nearer to that elusive DFD:)

Take care all

Ellie xx

Chrysalis1976

Wow that's so fantastic, well done Ee!

I wish you all the best that each month passes smoothly and you enjoy the fruits of your labour.

C x

12_month_challenge

Ellieseleven wrote: »

I have a bright future to look forward to where once I dreaded what would happen to me in retirement.

I still have a year to go (or thereabouts) but that time will pass quickly and each month now brings me nearer to that elusive DFD:)

Take care all

Ellie xx

Wow Ellie that's great about your total and a huge pat on the back for you.

Its also true how a death at so young brings things into perspective doesn't it

I dread to think where I would be if I hadn't plucked up the courage to face up to my debt and ask for help and advice on here. I am still a long way from the finish line but I know now that I will get there one day too.

Keep going we are right behind you cheering you along :T
12MC

Brogden

Lovely post Ellie. Thanks for inspiring me and so many others.

[Deleted User]

What a lovely, optimistic post to start off the new year, Ellie:T

Not only have you worked so hard to turn your own life around but you've always given so much of your time to help, console and encourage others on here.

We're with you every step of the way, cheering you on for that final push towards the lovely new life that you deserve so much:A

Ellieseleven

12_month_challenge wrote: »

I dread to think where I would be if I hadn't plucked up the courage to face up to my debt and ask for help and advice on here. I am still a long way from the finish line but I know now that I will get there one day too.

12MC

My sentiments exactly, I carried on for another 12-24 months longer than I should before accepting that I needed to do something drastic about our debt. I threw all my money at the debt in that time and it didn't make one ounce of difference, the debt just grew and grew out of control.


You just have to keep going 12MC, set yourself smaller milestones along the way that are achievable so you feel you are getting somewhere and before you know it that debt will be gone;)


Take care
Ellie x

Fortune_Smiles

Well done Ellie - that's amazing progress!


Fortune x